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This content is provided by Reid Collins & Tsai LLP.

Managing Partner: P. Jason Collins
Senior Partners: William T. Reid IV, P. Jason Collins, Lisa S. Tsai, Eric D. Madden, Rachel S. Fleishman, Marc Dworsky
Number of partners: 23
Number of lawyers: 32
Languages: English, German, Mandarin, Spanish

Firm Overview:
Reid Collins & Tsai LLP (RCT) is a trial boutique handling complex commercial litigation, particularly claims arising out of financial fraud. Key clients include hedge funds, corporations, offshore liquidators, and bankruptcy trustees. RCT is unique in several respects, including: (1) its extensive experience with high-profile cases involving large-scale financial fraud or insolvency; (2) its expertise in successfully pursuing claims against officers, directors, accountant, lawyers, and investment banks relating to the underlying fraud or misconduct; and (3) its willingness to pursue those claims on an alternative fee basis. Over the past few years alone, RCT has obtained over $1 billion in total judgments and settlements for its clients. RCT has been recognized as a ‘Recommended Firm’ by Chambers USA, a ‘Top 10 Plaintiffs Firm’ by Benchmark Litigation, and ‘Elite Trial Lawyers’ by the National Law Journal.

Main Areas Of Practice:
-Complex Commercial Litigation
-Bankruptcy-Related Litigation

Complex Commercial Litigation:
■ Won a $287.5 million judgment (which was later affirmed on appeal) for Highland Capital against Credit Suisse following a five-week trial on fraud and breach of contract claims related to a $540 million loan to the developers of the Lake Las Vegas resort
■ Achieved a $63 million settlement to resolve claims by the Commonwealth of Virginia under the Virginia Fraud Against Taxpayers Act against several large banks related to fraudulent misrepresentations in the sale of residential mortgage-backed securities to the Commonwealth’s retirement system
■ Represented Seahawk Drilling Company with respect to its claims against BP plc related to the Deepwater Horizon incident, which claims were selected for trial as a test case in the MDL proceedings and were later resolved in a confidential settlement
■ Defeated a motion to dismiss and compel arbitration of a $100 million class action alleging that Advocare International operates as an illegal pyramid scheme in violation of state and federal law, including the Racketeer Influenced and Corrupt Organizations (RICO) Act
Contact: William T. Reid IV
Tel: +1 512 647 6105
Email: [email protected]

Bankruptcy-Related Litigation:
■ Won a landmark decision before the U.S. Supreme Court, restricting the scope of the section 546(e) ‘safe harbor’ defense to fraudulent transfer claims, and thereby overturning long-standing and expansive interpretations of that defense by five circuit courts
■ Obtained a $23.6 million settlement on behalf of the Official Committee of Unsecured Creditors of Central Grocers, Inc., with respect to fraudulent transfer claims against a group of six banks, including PNC Bank, Bank of America, and US Bank
■ Defeated a motion to dismiss a $1 billion lawsuit by the GTAT Litigation Trust against the former officers of GT Advanced Technologies Inc., a former publicly traded company, related to its failed contract with Apple to manufacture sapphire display screens for the iPhone
■ Achieved a $21.5 million settlement on behalf of the Official Committee of Unsecured Creditors of Fresh & Easy, LLC, with respect to claims against the former insiders — including billionaire Ronald Burkle — for breach of fiduciary duty and fraudulent transfer of certain assets
Contact: Eric D. Madden
Tel: +1 214 420 8901
Email: [email protected]